Wolf Theiss has advised Eurazeo Patrimoine on its acquisition of 85 hotels under the brands Ibis Budget, Ibis Styles, Mercure, Novotel, and Pulman, from AccorHotels and other investors. The volume of the transaction is more than half a billion euros. In the future, the hotels will join the newly created Grape Hospitality Group, a joint venture between Accor and Eurazeo.
Eurazeo Patrimoine is the real estate investment arm of Eurazeo, one of the leading European investment companies. Eurazeo is listed on the Euronext in Paris and has a diversified asset portfolio valued at more than EUR 5 billion. Eurazeo is the core shareholder of well-known companies such as Desigual, Europcar, and Moncler.
Wolf Theiss advised on the tax structuring of the transaction, the acquisition of the properties and the hotel operations, and the financing of the acquisition. For the portions of the hotel portfolio located in Austria, the Wolf Theiss team was led by Partners Niklas Schmidt, Karl Binder, and Michael Lind, along with Senior Associates Eva Stadler and Matthias Schimka and Associates Cynthia Pfister, Felix Breitwieser, Markus Reinfeld, Iris Riepan, and Nikolaus Dinhof.
Wolf Theiss did not respond to our inquiry about counsel for the sellers.
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